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South Korea-based Startup Wanted Plans to expand markets in Taiwan, Hong Kong, and Singapore

Wanted, South Korea-based job-seeking platform developer, plans to grow its international markets in Taiwan, Hong Kong, and Singapore, according to a news source from Business Next.

The startup began to expand overseas markets last year. Japan was their first international market to break into. The report wrote that Wanted revealed recently that it has set up an office in Taipei city and has plans to grow the Taiwanese market.

The newly developed job-seeking website aims to encourage people to make referrals and introduce their friends to apply for jobs on the internet. People who are looking for jobs will be able to explore job opportunities and receive tailored job matches based on his or her personal profile and working experience.

The idea is that by referring a friend or an acquaintance to a job, this person also get to get rewards for making referrals. According to their website, once the applicant gets hired and works well for about 3 months, whoever makes the refer all would get a reward for up to SGD $1,500 for Singapore, and $16,000 HKD for Hong Kong.

Wanted, which was founded three years ago in March 2015, specializes in building products around internet technology and future of work technologies.

According to the data provided by the Wanted team, the employment rate for job applicants who have referrals or recommendation letters is 8 times higher than of the average job seeker.

Further, the data shows that the retention rate increases by 30% for those job applicants who got the job through referrals and recommendations, since they show more stability and better work performance.

The firm’s executives said at present, Wanted has more than 2,000 companies who are currently recruiting talents via their platform in the South Korea market. The number of users worldwide is over 400,000, of which South Korea accounts for about 90%.

Upon the completion of the B round of funding last year, the startup company began to break into international markets at a rapid speed.

Many of the job postings for the Taiwanese audience are looking for software programmers, engineers, application developers, interface designers, sales representatives and marketing specialists.

The Wanted team in Taiwan said that they’re excited about building a team in Taipei and expanding to the Taiwanese market. The Wanted team suggested that Hong Kong and Singapore will be easier to operate and grow the local markets because places like these seem to have more multinational companies than Taiwan. Hong Kong and Singapore have a high demand for cross-border talents, at the same time, they are more willing to try out new recruiting tools like Wanted is offering.

News source is from Business Next.